Modular Homes

[Jim Murphy]

Just wondering what you think of factory build homes I am in process of a deal [ hud foreclosure] and it is on a basement. This is not your trailer type building in a trailer park it looks and feels like a standard site built home.

[Bill Gulley]

Hi, good looking little home and they are all over. Some say the are better built than stick, I agree in some areas, but that's not necessarily true, but it's not relevant either,that's marketing. What counts is the financing. The key is going to be in the appriasal. The question then becomes, is it common for the area and is a stick built home comparable for the appraisal. To really answer that, is there eveidence in the market area. If this is the only Modular in a thirty mile radius, you might have a problem, regardless how well built it is or is preceived to be. I suggest you pick up the phone and call some appraisers in the area and ask a quick question, "what's your opinion of modular homes in the area"? Bill